Services and industry account for 65.74% of total Emirates NBD funding for customers by September- 2023 End

Emirates NBD-Egypt finances improved significantly this year, as evidenced by the Bank's total customerloans rising by EGP 8.26 bn, to register EGP 54.66 bn by the end of September 2023, compared to EGP 46.40 bn by the end of 2022, a growth of 17.8% during the period from the beginning of this year to the end of September 2023.

Given the distribution of the Bank's total customerloans to the sectors, Emirates NBD has strengthened its support to the services sector, as evidenced by the rise in the sector's share of its total funding to 34.15% by the end of September 2023, compared to 32.20% by the end of 2022.

There was considerable progress in loans to the services sector during the current year, with the portfolio jumping by 24.9%, reaching EGP 18.7 bn by the end of the third quarter of 2023, up from EGP 14.9 bn by the end of 2022, with an increase of EGP 3.7 bn.

The Bank's funding for the industrial sector jumped by 23.28%, with an increase of EGP 3.26 bn during the first 9M of this year, reaching EGP 17.2 bn by the end of September 2023, compared to EGP 14 bn by the end of 2022.

Meanwhile, the family sector came third in terms of the bank grant credit preferences, despite the slight decline in its share, accounting for 25.20% of total customer loans of the bank by Q3 of 2023, compared to 26.93% by the end of 2022.

As for the Bank's funding for the family sector, it rose by 10.23%, registering EGP 13.8 bn by the end of September 2023, compared with EGP 12.5 bn by the end of 2022, an increase of EGP 1.3 bn.

In addition, the commercial sector finished fourth in terms of the Bank's grant credit preferences, despite a slight decline in its share, with a relative weight of 8.77% of the total customer loans of the bank by Q3 of 2023, compared to 10.58% by the end of 2022.

Emirates NBD trade sector loans recorded EGP 4.8 bn by the end of September 2023, compared to EGP 4.9 bn by the end of last year.

Whereas The Bank's fifth and final position in terms of grant credit preferences were in the agricultural sector, accounting for 0.28% of total customer loans of Emirates NBD Bank by the Q3 of 2023, compared to 0.11% by the end of 2022.

The Bank's funding for the agriculture sector jumped by 210.96%, recording EGP 155.27 mn by the end of September 2023, compared to EGP 49.93 mn by the end of 2022, with an increase of EGP 105.34 mn.

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